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Dubaifinancialmarket

Analysis on UNION PROPERTIES Dear Emarati traders, I saw some people on a group welling to buy the UNION PROPERTIES Index for long term investment and I said why not to make an analysis on it to share it with you, I figured out that it’s not the right moment to buy it. As you can see on the chart, the price is consolidating in a channel for 3 years now and still haven’t break through it. What you’ll be waiting for is the price to break the resistance with a high volume so you make sure that it’s not a fake breakout. Please let me know in the comment section what markets you want me to analyze for you.
DFM:UPPLong
by YassineAnalysis
Dubai's Salik begins debut trading on DFM at $0.65 The public offering of Dubai's Salik, which raised 3.735 billion UAE dirhams ($1.017 billion), started today at 2.40 UAE dirhams ($0.65) per share. It is up 20% from its IPO price. The company's IPO was over-subscribed by 49 times. It also announced that it would allocate a minimum of 1,000 shares to its subscribers in the first and second batches. In the first five minutes of trading, Salik's volumes exceeded 85 million shares. This was due to the heavy buying by retail investors, who were able to surpass their subscriptions. After five minutes, the stock was trading at around 2.27, up 13 percent. On the other hand, the other DFM counters, such as DEWA, were almost flat. Salik volumes easily crossed 100 million by 10:10AM Dubai time, it's believed that it could easily reach 200 million shares. Now, the total traded value of Salik's shares is around Dh414 million. Based on the current volume, it is believed that the company is poised to become the biggest traded IPO of the year on a listing day. If the market's expectations are met, it will be a remarkable achievement for the Dubai government, which has been aggressively pursuing its efforts to monetise its assets. The strong debut of Salik shows that the country's financial assets are still regarded as top-notch.
DFM:SALIK
by bbitar